Dane dla JB
Voter Discontent
Voters in Virginia and New Jersey this week took out their frustration over joblessness on the political party in charge. The economy and jobs were the most important issues as Republicans won governorships in both states held by Democrats, according to election polls.
President Barack Obama in February signed into law a $787 billion stimulus package aimed at reviving growth and stemming job losses. The administration said last week that the plan was directly responsible for saving or creating about 640,000 jobs. Exit polling this week showed six in 10 New Jersey voters and 55 percent of Virginians said Obama didn’t influence their vote.
The U.S. economy grew last quarter for the first time in a year, expanding at a 3.5 percent pace as government incentives spurred consumers to spend more on homes and automobiles.
Job Cuts
Some companies are cutting payrolls amid concern spending will cool as government assistance wanes. The New Brunswick, New Jersey-based Johnson & Johnson, the world’s largest health- products company, said Nov. 3 it will shrink its workforce by as much as 7 percent, or 7,000 workers.
Other companies are gaining confidence. Deere, the world’s largest maker of agricultural equipment, said last week it’s recalling 452 workers, the majority of manufacturing employees dismissed earlier this year at a factory in Iowa.
Cisco Systems Inc.’s John Chambers, one of the first technology leaders to herald the recession two years ago, said yesterday he now sees a global economic recovery, fueling a rebound in his company’s sales this quarter.
“The numbers are indicating us being in the early, initial phase of a recovery -- with the U.S. leading the way,” Chambers said in an interview.
After reaching a 13-year low on March 9, the Standard & Poor’s 500 Index has gained 58 percent as the economy showed signs of recovering.
Bloomberg Survey
===============================================================
Nonfarm Unemploy Manu Hourly
Payrolls Rate Payrolls Earnings
,000’s % ,000’s MOM%
===============================================================
Date of Release 11/06 11/06 11/06 11/06
Observation Period Oct. Oct. Oct. Oct.
---------------------------------------------------------------
Median -175 9.9% -42 0.1%
Average -175 9.9% -43 0.1%
High Forecast -105 10.1% -30 0.3%
Low Forecast -250 9.8% -55 0.0%
Number of Participants 84 81 22 60
Previous -263 9.8% -51 0.1%
---------------------------------------------------------------
4CAST Ltd. -145 9.9% --- 0.2%
Action Economics -150 9.9% -50 0.2%
AIG Investments -150 9.8% --- 0.2%
Aletti Gestielle SGR -160 9.9% -50 ---
Ameriprise Financial Inc -170 9.8% -35 0.1%
Banesto -175 --- --- ---
Bank of Tokyo- Mitsubishi -185 9.8% --- 0.2%
Bantleon Bank AG -190 9.9% --- ---
Barclays Capital -150 9.9% -30 0.1%
Bayerische Landesbank -180 9.9% --- ---
BBVA -185 9.9% -48 0.1%
BMO Capital Markets -170 10.0% --- 0.1%
BNP Paribas -200 10.1% --- 0.1%
BofA Merrill Lynch Resear -180 10.0% --- 0.1%
Briefing.com -230 10.0% --- 0.0%
C I T I C Securities -210 9.9% --- ---
Calyon -175 9.9% --- 0.1%
Capital Economics -180 10.0% --- 0.0%
CIBC World Markets -200 9.9% --- 0.1%
Citi -175 10.0% -45 0.1%
ClearView Economics -150 9.9% -35 0.2%
Commerzbank AG -175 9.9% --- 0.1%
Credit Suisse -150 9.9% --- 0.3%
Daiwa Securities America -150 9.9% --- ---
Danske Bank -120 9.9% --- ---
DekaBank -160 9.9% --- 0.1%
Desjardins Group -200 9.9% --- 0.1%
Deutsche Bank Securities -175 9.9% --- 0.1%
Deutsche Postbank AG -180 9.9% --- ---
DZ Bank -160 9.9% --- ---
Exane -150 10.0% --- 0.1%
First Trust Advisors -105 9.9% -40 0.2%
Fortis
[Ten komentarz został zgłoszony do usunięcia przez 1 osobę - Dan_ Kenobi.]